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CHAI Homebuyer Assistance Loan

At a Glance

$10,000, zero-interest loan

Who's Eligible?

First-time homebuyers who want to purchase in designated northwest Baltimore neighborhoods

To Get Started

Complete a one-on-one counseling session with a HUD-approved housing counselor, work with Maryland Mortgage Program (MMP)-approved lender, and contact CHAI

CHAI’s Homebuyer Assistance Loan offers a 10-year term loan with zero interest. For the first 5 years, no monthly payments are required. At the start of the 6th year, the loan re-amortizes, and the borrower will begin making monthly payments for the balance of the term.

PROGRAM BENEFIT

This program can help cover closing costs and buyers’ fees, reducing the upfront costs associated with purchasing a home.

ELIGIBILITY & LIMITATIONS

You are a first-time homebuyer. Applicants must not have owned a residence in the past three years.
You must earn a homeownership counseling certificate from a City-approved counseling agency before making an offer on your home. *Homeownership certificates are valid for 12 months from the date of completion.
You are purchasing a home in an eligible neighborhood: Cheswolde, Cross-Country, Fallstaff, Glen, or Mount Washington.
Household income cannot exceed 100% AMI.
You have a minimum credit score of 640.
You are working with a lender approved by the Maryland Mortgage Program (MMP).

PROGRAM CONTACT

For questions about funding or applying for this incentive, please contact: Comprehensive Housing Assistance, Inc. (CHAI)
(410) 500-5359

Email
Website

Live Baltimore is not responsible for the distribution of incentive funds for this Incentive. Incentive funds are administered by CHAI. We promote this incentive for educational purposes only. Learn more about us.

We're here to help.

Have more questions about this or other Baltimore City homeownership incentives? We're here to help! Send us an email or give us a call at (410) 637-3750. A Live Baltimore team member can walk you through your options.